Cash flow from operating activities before dividends paid, divided by the weighted average number of shares in issue during the year.
Current ratio
Current assets divided by short-term non-interest-bearing debt.
Dividend cover
Normalised headline earnings per share divided by dividends per share.
Dividend yield
Dividends per share divided by market price per share at year-end.
Earnings yield
Normalised headline earnings per share divided by market price per share at year-end.
EBITDA
Earnings (operating profit) before interest, taxation, depreciation and amortisation of intangible assets.
Headline earnings per share
Attributable earnings adjusted for attributable value of items in terms of SAICA circular 08/2007, divided by the weighted average number of ordinary shares in issue during the year.
Market capitalisation
Market price per share at year-end multiplied by number of ordinary shares in issue.
Net assets
Total assets less non-interest-bearing debt, excluding RCCF borrowings.
Net asset turn
Revenue divided by average net operating assets.
Net borrowings
Total borrowings net of cash and cash equivalents.
Net interest cover
Operating profit and dividends from associate company divided by net interest paid.
Net operating assets
Total assets excluding cash and cash equivalents, less current liabilities excluding short-term borrowings and bank overdrafts.
Net worth per share
Ordinary shareholders’ funds divided by shares in issue at year-end.
Normalised headline earnings per share
Attributable headline earnings adjusted for the interest in profit that is economically attributable to BEE partners and other items included in profit that are directly associated with BEE transactions divided by the weighted average number of ordinary shares in issue during the year.
Operating margin
Operating profit divided by revenue.
Return on net operating assets
Operating profit, plus share of associate company’s profit, less adjustments for capital items excluded from headline earnings, divided by average net operating assets.
Return on net operating assets excluding investments in associates
As for return on net operating assets excluding investments in and share of associate company’s profit.
Return on ordinary shareholders’ funds
Normalised headline earnings divided by average ordinary shareholders’ funds.
Total assets
Property, plant and equipment, intangible assets, investments and current assets.
